I am joining the hordes occupying the chatter-sphere to opine about what the GSEs should look like, post conservatorship. Having reviewed loads of opinions about the future of the Twins, I’m pretty sure the bar on looking...more
December 7, 2023- U.S. Senate Committee on Banking, Housing, and Urban Affairs Ranking Member Tim Scott (R-S.C.) and Banking Committee Republicans are calling on Federal Deposit Insurance Corporation Chairman Martin...more
As we noted very briefly on Monday in our “Quick Take on a Sudden Change in the Banking Landscape,” among the various actions the government took Sunday evening to try to stabilize the banking market, the Federal Reserve...more
January 13, 2023- U.S. Secretary of the Treasury Janet L. Yellen sent a letter to all members of Congressional leadership regarding the debt limit. January 13, 2023- The UK-U.S. Financial Regulatory Working Group issued a...more
Legislation requires rent payment plans, mortgage relief, and foreclosure and eviction moratoriums. Residential and many commercial landlords may not increase rent and must make rent payment plans available to eligible...more
On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
Many of you have read about the power of the president to invoke the Defense Production Act to acquire products or direct the activities of suppliers based on a finding that it is necessary for the federal government to...more
Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more
In addition to the guidance regarding Hurricane Harvey disaster relief, the housing agencies and government-sponsored enterprises (GSEs) recently addressed the mortgage-related relief available to victims of both Hurricane...more
The depth and impact of the 2007-08 financial crisis, rooted in residential finance, have been apparent for some time. There has never been doubt that its aftermath would transform the way mortgage lending operates in the...more